By Tony Wilbert, Wilbert News Strategies
ATLANTA (Oct. 28, 2010) - Forget about Jamestown's hometown $26 million acquisition of City Hall East. The firm is part of a deal that would dwarf its purchase of the former Sears warehouse on Ponce.
Jamestown, Taconic Investment Partners and the New York State Common Retirement Fund are negotiating to sell 111 Eighth Ave. near New York City's Chelsea Market to Google for a stunning $2 billion. Yes, billion with a B. This, according to a story by the always reliable Lois Weiss, who writes the Between the Bricks column for The New York Post. (Thanks to NY Post for the photo, too.)
The Wall Street Journal and numerous other outlets picked up Lois' story.
Atlantans might recall the name Taconic. The firm bought the former Macy's building downtown and tried to convert it to a huge telecom building.
In New York, The 2.9 million-square-foot complex Google plans to buy at 111 Eighth Ave. also has a huge telecom component and is home to Nike, Google itself and glam-ad guy Donny Deutsch.
If Jamestown and Taconic closed the deal with Google, Jamestown's German investors likely will be screaming "Unglaublich!" in the streets as they celebrate the ROI.
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